LOWERING COSTS AND EXPANDING ACCESS TO HOMEOWNERSHIP: Today, President Donald J. Trump signed an Executive Order to lower the costs of single-family homeownership and mortgages and promote innovation throughout the housing market. •The Order directs the Director of the Federal Housing Finance Agency (FHFA) to create a pilot program to cancel borrowers’ mortgage insurance premiums proactively once they have satisfied their equity requirements based on the current market value, which will eliminate a large monthly expense for qualifying Americans across the country.   •The Order establishes the Task Force on Manufactured Housing Innovation to increase the quality of and lower the cost of building a home by facilitating the use of modern manufacturing methods in the production of factory-built housing eligible for federal housing programs. •The Order directs the FHFA Director to reduce homeowners’ refinancing costs by expanding the FHFA’s title insurance waiver pilot into a permanent program to allow more borrowers to utilize cost-friendly alternatives to title insurance and to reduce the closing costs of refinancing and monthly expenses associated with homeownership.  •The Order directs the Secretary of Agriculture and Secretary of Veterans Affairs to reduce interest rates on single-family home loans made by their respective Departments. RESTORING THE AMERICAN DREAM OF HOMEOWNERSHIP: President Trump is removing unnecessary red tape and making homeownership more affordable for all Americans. •Homeownership is a vital pillar of our great Nation, and President Trump and his Administration are working tirelessly to cut burdensome costs and red tape to make the American dream of homeownership more affordable for all Americans.  •Unnecessary regulations and outdated mortgage processes have made homeownership unaffordable and driven up closing costs.